Akanda Corp. Announces Closing of Underwritten Public Offering

Core Viewpoint - Akanda Corp. has successfully closed an underwritten public offering, raising gross proceeds of $1,500,000 to support various corporate initiatives [2][3]. Group 1: Offering Details - The offering included 258,940 common shares priced at $1.00 each and 1,241,060 pre-funded warrants, which are immediately exercisable at a price of $0.0001 per share [2][3]. - The closing of the issuance occurred on October 3, 2024, under an underwriting agreement with Univest Securities, LLC [4]. Group 2: Use of Proceeds - The net proceeds from the offering will be allocated for capital expenditures, operating capacity, working capital, potential milestone payments for a Canadian property purchase option, general corporate purposes, and refinancing existing debt [3]. Group 3: Company Overview - Akanda Corp. is an international medical cannabis company focused on cultivating and distributing high-quality cannabis and wellness products across Europe and North America [5]. - The company's mission emphasizes providing safe, reliable, and accessible cannabis products while promoting sustainable business practices [5].